External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Heidelberg Cement India / Equity Bottom-Up

<ul><li>Heidelberg Cement’s reported Revenue/ EBITDA/ APAT de-growth of 12%/59%/88%during the quarter on account of volume de-growth of 19% YoY and higher input costs.</li><li>The company reported a volume of 1million tonnes per annum (mntpa) against 1.23 mntpa YoY.</li><li>The company performance was below our as well as street expectations on all fronts.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Heidelberg Cement’s reported Revenue/ EBITDA/ APAT de-growth of 12%/59%/88%during the quarter on account of volume de-growth of 19% YoY and higher input costs.The company reported a volume of 1million tonnes per annum (mntpa) against 1.23 mntpa YoY.The company performance was below our as well as street expectations on all fronts.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Heidelberg Cement India Limited - Volume Growth Still Lagging; Downgrade to HOLD